Wal-Mart Stores Inc. (NYSE:WMT) is set to up its investment in Chinese e-commerce firm Yihaodian.

Wal-Mart Stores Inc. To Boost China Investment

Wal-Mart Stores Inc. (NYSE:WMT) has reached an agreement to increase its stakes in the Chinese e-commerce firm Yihaodian in a move to expand its presence in China.

Once the transaction is approved, the company will hold a 51 percent stake in Yihaodian.

Wal-Mart Stores Inc. (NYSE:WMT)’s Global e-commerce president and CEO Neil Ashe said, “This investment further enables Wal-Mart Stores Inc. (NYSE:WMT) to deliver a superb customer experience to Chinese consumers that are already connected to the world through smart phones and social media. We are on track to create the next generation of eCommerce, offering the latest in online innovations to give our customers a unique shopping experience”.

Wal-Mart Stores Inc. (NYSE:WMT) shares were at 62.48 at the end of the last day’s trading. There’s been a 9.2% change in the stock price over the past 3 months.

Wal-Mart Stores Inc. (NYSE:WMT) Analyst Advice
Consensus Opinion: Moderate Buy
Mean recommendation: 1.96
(1=Strong Buy, 5=Strong Sell)
3 Months Ago: 2
Zack’s Rank: 3 out of 18 in the industry